11.09.202510:35 Forex-elemzések és áttekintések: US Securities and Exchange Commission Backs Down

While Bitcoin and Ethereum are preparing for a new bullish impulse, the US Securities and Exchange Commission (SEC) has once again postponed decisions on several ETF rule changes linked to cryptocurrencies.

On Wednesday, the SEC announced it needed more time to review applications for permission regarding Ethereum staking. Although SEC Chair Paul Atkins has recently expressed open support for digital assets, the agency continues to delay rulings on many crypto-related ETFs.

The SEC's hesitation in making decisions on ETFs and Ethereum staking can be attributed to concerns over investor protection and the need to develop clear regulatory frameworks for decentralized finance. However, these delays could mean missed opportunities for innovation and capital inflow into the industry.

Meanwhile, applications for new altcoin-based ETFs keep rolling in almost weekly, as financial institutions show readiness to list funds that offer exposure to cryptocurrencies beyond Bitcoin and Ethereum.

Back in July, the SEC announced it was seeking public comments on a proposed rule change to allow the BlackRock iShares Ethereum Trust to include staking. Issuer interest in adding staking to their Ethereum ETFs grew dramatically after the SEC's corporate finance division said in May that certain types of blockchain staking do not constitute the issuance of securities. Many took this as a green light for staking in crypto ETFs.

Last month, the SEC also postponed a decision about whether Grayscale can add staking to its Ethereum ETF.

Regarding spot ETFs, Franklin Templeton's two proposals for spot ETFs for XRP and Solana are also delayed pending an SEC decision. The company first submitted its ETF listing applications in March.

Trading Recommendations:

Bitcoin Technical Outlook:

Buyers are now aiming to reclaim the $114,600 level, which opens the way to $116,000 and, soon after, the $117,500 mark. The farthest bullish target is the $118,600 area; a breakout above this would confirm a strengthened bull market. If Bitcoin declines, look for buyers at $113,200. Falling below this area could quickly send BTC toward $111,900, with $110,000 as the deepest bearish target.

Ethereum Technical Outlook:

A clear hold above $4,418 opens the path to $4,519. The farthest bullish target is the $4,601 zone—a breakout there would confirm ongoing bull market strength and renewed buyer interest. If ETH declines, watch for buyers at $4,347; falling below that could quickly send ETH toward $4,272, with $4,202 as the next major downside target.

On the chart:

• Red levels mark support and resistance, where price is expected to either slow down or show strong momentum.
• Green line is the 50-day moving average.
• Blue line is the 100-day moving average.
• Light green line is the 200-day moving average.

A crossover or test of any moving average usually stops or can set a new impulse for the market.